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Gift Deed (15% off on total bill )

What is a Gift Deed?

In India, a Gift Deed is a legally binding written document defined under Section 122 of the Transfer of Property Act, 1822. Under this Section, the eligible donor can transfer an existing movable or immovable property to the other person did voluntarily. It is mandatory to have a registered Gift Deed when the donor wants to transfer the immovable property.
The following properties can be gifted, a movable or immovable property, an existing property, tangible property, and transferable property. A donor is any person who makes the transfer of the immovable property. Any person who is of a sound mind and is competent to enter into any agreement can be a donor.

Why Gift Deed?

Legitimise the Gifting Process
The procedure of gifting will be legalized by executing a gift deed. A Gift Deed often includes all pertinent information about the property and the parties engaged in the transaction, obviating the possibility of a future dispute.
Avoids Legal Liabilities
The parties engaged in the creation of a Gift Deed are less likely to be in a legal dispute because the Gift Deed serves as the sole documentation of the asset transfer. In the event of a legal disagreement, it typically allows the parties to use their legal right to choose a judicial process.
Tax Exemption
Another major benefit of a Gift Deed is that it is tax-free up to a certain point. If the entire value of the present is less than Rs 50,000, the tax authority will not apply any taxes on the gift recovered by the donee throughout the year.

Documents / Details we need

Names and References
The names, designations, and details of both the parties including identity proof and address proof, compulsory PAN, and Aadhar details.
Sale Deed
Sale Deed proving the ownership of the donor over the property or any similar document
Property Documents
It is mandatory to have documents such as the Encumbrance Certificates, Khata Extracts, and other relevant property documents that are evidence of free title/ownership.

Important Clauses

Consideration Clause
It should be clearly included and depicted in the Gift Deed as a requirement, stating that there is no exchange of money or another form of payment and that the transfer is made out of love or affection by the Doner.
Rights and Liabilities
It is important to mention and declare any kind of additional rights or liabilities with respect to the transfer made under the Gift Deed.
Specifications of the property
An exhaustive/detailed description of the property, being gifted, must be included. The description of the property may specify the schedule, dimensions, structure, address, area, location, etc.
Donor and Donee Information
The relationship between the Donor and Donee is important to be mentioned, whether the Donor and Donee are blood relatives or not. In India, some state governments exclude blood relations from paying stamp duty on Gift Deeds.
Delivery
A delivery clause, which would confirm the delivery of the possession of the property, generally speaks 'explicitly or implied' about the actions of the transfer.
Rights of the Donee
This clause will speak about the rights of the Donee over the property being gifted.
Revocation Clause
This clause is not mandatory, but it is advisable that the same must be incorporated in a Gift Deed to avoid future conflicts and complications.
Free Consent
This clause explicitly states that the Donation is out of sheer love and affection, and is free of any improper influence, coercion, fear, or threat, and the transfer is voluntary.

What's the process ?

1. Assessment
Our team will reach out to you to obtain the necessary information pertaining to the nature of the gift in terms of what it is, the amount involved, the schedule of properties if any, and all other necessary information.
3. First Ready Draft
We will complete the first draft of the Gift Deed and email it to you for approval within 48 hours. Following approval, any necessary adjustments will be made and submitted to you on the agreed next date.
2. Due Diligence and Drafting
Once we receive the information, we will begin drafting the agreement from scratch, such as mentioning the reason for such Gift Deed, the taxes involved, the reason for such gift, and other relevant details as required by the party.
4. Final Agreement
With a high-quality team of professionals, the entire process of creating the draft and delivering the final copy of the Gift Deed as per your needs will be accomplished in 72 working hours.
1. Assessment
Our team will reach out to you to obtain the necessary information pertaining to the nature of the gift in terms of what it is, the amount involved, the schedule of properties if any, and all other necessary information.
2. Due Diligence and Drafting
Once we receive the information, we will begin drafting the agreement from scratch, such as mentioning the reason for such Gift Deed, the taxes involved, the reason for such gift, and other relevant details as required by the party.
3. First Ready Draft
We will complete the first draft of the Gift Deed and email it to you for approval within 48 hours. Following approval, any necessary adjustments will be made and submitted to you on the agreed next date.
4. Final Agreement
With a high-quality team of professionals, the entire process of creating the draft and delivering the final copy of the Gift Deed as per your needs will be accomplished in 72 working hours.

Why choose us

PERSONALISED SERVICE

A dedicated Case Manager ensures quick turnout to all your queries and tailored solutions that fit perfectly for your requirements.

72 HOURS DELIVERY

All your drafting queries are addressed, understood, and delivered with quality under 72 Hours.

EXPERIENCED TEAM

Our team of dynamic professionals is well experienced and extremely proficient to cater to your needs, ensuring the best service.

24/7 HELPLINE

We are available to address and clarify all your queries round the clock. So you can worry less and focus more on the business.

Frequently Asked Questions

A gift is given by one person to another, known as the giver and donee. There should be no monetary value attached to a gift. That is, the giver should not be compensated in any way for making a gift, and it should be provided and created with both parties’ free consent. The donee should accept the gift in the lifetime of the donor.

When a gift is offered by one party to another and is not accepted by the recipient, the gift deed becomes null and void.

To be legitimate and lawful, both parties to the gift deed must sign and execute the agreement in front of two witnesses. The execution must be done with the permission of a free and informed person.

Acceptance of a gift is required by law, according to several Courts, without which such an act is declared invalid. Such acceptance must be made during the lifetime of the donor while he is ‘capable’ of making it, and if not the deed stands void.

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